Q. Could you tell us a bit about your career journey?

PP. My career started off in accountancy, which wasn’t exactly planned. I had intended to move into social and economic policy, but was drawn in by the stability it offered through training, and I began by working with public sector clients. Then I had a chance to work on international aid projects, auditing how funds were being used for development programs. That took me to places like Kenya and Sarajevo, which broadened my perspective on social and economic issues.

From there, I went to New York and worked in financial services risk advisory, helping firms get ready for IPOs. I enjoyed the fast pace, but eventually, I found my way back to London and into the insurance market. I joined Asta in 2020, right around the time the world went into lockdown.

Q. What attracted you to Asta, and what do you find most rewarding about working here?

PP. I was drawn to Asta because it operates as a third-party managing agent, which means it sits in this unique space between a traditional insurer and a service provider, and that was appealing to me.

Asta also felt like a good fit because it offered the flexibility and support I was looking for. I’d reached a point where I wanted more control over my career and a chance to explore areas I was passionate about, like sustainability. One of the standout factors was Asta’s approach to flexibility – I work part-time, four days a week, which gives me the balance to pursue other interests and spend time with my family. That kind of openness is rare in the industry and was a big draw for me.

Asta’s model really stands out because we’re able to help a variety of clients set up, manage and develop their businesses in a way that meets both regulatory and market needs. It allows us to be strategic and proactive, rather than reactive, which is refreshing.

What I love most, though, is the genuine commitment to doing the right thing. Asta’s supportive culture is real – I got involved with the Culture Committee early on, where we worked on a range of ESG initiatives. Asta has even supported me in pursuing a part-time doctorate in sustainability, for which I’m grateful. It’s great to be part of a company that values personal and professional growth and is willing to invest in its people.

Q. You’ve got a strong background in risk management. What motivated you to shift toward sustainability, and how does your risk experience influence your approach?

PP. Sustainability has been a long-standing interest of mine. I studied geography at university, which gave me an early foundation in environmental and social issues, and then my work in international aid brought those issues to life. When I started working in the insurance sector, my curiosity naturally led me toward CSR and ESG topics, which came to fruition when I studied corporate social responsibility in the London insurance market as part of my MBA dissertation. That set me up to support the development of ESG frameworks, which was my first foray into sustainability.

Risk management plays a big role in how I approach sustainability. In risk, you’re constantly working with stakeholders, understanding their challenges, and weighing various factors to help them reach their goals. Sustainability is similar – it’s complex, it involves a lot of different voices, and there’s no single solution. My risk background helps me see sustainability as an extension of what insurance already does. For instance, we deploy the same risk management tools and frameworks to measure and manage the impact from climate change. It’s not an isolated effort. It’s a way of making sustainability part of our everyday business practices, not just a box we tick for compliance.

Q. How does bringing sustainability into risk management change the way insurers handle risk?

PP. Integrating sustainability into risk management is transformative for insurers. Risk management is the backbone of the industry, so by embedding sustainability, we can factor in new, complex risks, like climate change, right into our risk assessments and decision-making. This isn’t just about meeting regulatory requirements; it’s about anticipating risks and setting ourselves up for long-term success. 

For instance, regulatory bodies like the PRA and the MAS in Singapore have frameworks focused on climate and environmental financial risks, which require insurers to think more strategically about their exposure and impacts. At Asta, we use risk management tools – things like stress testing, scenario analysis, and horizon scanning – to explore how sustainability factors might impact our business and that of our clients. The goal is to make sustainability part of “business as usual,” not just an add-on.

Q. In your view, what role can insurance play in supporting the United Nations Sustainable Development Goals (SDGs)?

PP. The insurance industry has a big role to play in advancing the SDGs. The goals cover everything from climate action to gender equality, and each one represents an area where insurers can make a meaningful impact. Insurance provides a financial safety net that helps individuals and businesses take risks without compromising their future. For SDGs to succeed, especially in emerging markets, we need that kind of stability.

One of the biggest challenges is what’s called the “protection gap,” especially in developing countries, although it’s very much apparent in developed economies too. High premiums covering high risk exposure will inevitably make insurance unaffordable where it’s needed most. To meet SDGs, there is a high risk at current levels of immaturity, and so we need to find a way for insurers to reduce that risk.